Rigel Pharmaceuticals risk/reward favorable, says Oppenheimer

After conducting checks, Oppenheimer believes there's a good chance that Phase III tests of Rigel's fostamatinib for rheumatoid arthritis will yield successful results. The firm thinks that the stock only reflects a 35% chance of successful Phase III data, and it raised its target on the shares to $15 from $12 while maintaining an Outperform rating.